Why Do I Need Renters Insurance? – What All Renters Should Know

“Home insurance is only for people who own homes, right? And I rent my home (apartment, condo), so why do I need renters insurance?”

Fact is, you do need renters insurance unless you want to risk losing everything you own. Read on to learn the truth behind common renters insurance myths.

Myth: As a Renter I’m Covered By My Landlord’s Policy

Your landlord probably does have home insurance covering the property you rent. But it only covers the building itself. It will not …

* Cover your possessions if they are stolen or damaged.

* Provide you any money for living expenses if your home is damaged and you have to live elsewhere during repairs.

* Cover you if someone is injured while visiting you.

You need to buy renters’ insurance to provide these coverages.

Myth: I Don’t Have Enough Possessions to Buy Renters Insurance

You may not think you have very much stuff, but if you take an inventory you’ll be surprised at how much you actually own. Walk from room to room in your house and write down everything you own, including:

* Sports equipment, such as bikes, skis, tennis rackets, etc.

* Electronic equipment, including television sets, computers, cameras, phones, music players, etc.

* Clothes and shoes

* Furniture and appliances

* Books

* Linens

* Kitchen items, including pots and pans, silverware, dishes, and utensils

* Tools and hobby equipment

* Jewelry and collections

Now think about how much it would cost to replace all these items!

Myth: I Can’t Afford Renters Insurance

Renters insurance costs less than you think. The average cost is $200 a year ($16 a month) for $30,000 worth of property coverage and $100,000 worth of liability coverage.

To make sure you get the best rate on your renters insurance, go to an insurance comparison website where you’ll get fast quotes from multiple A-rated insurance companies. The best insurance comparison websites also let you talk with insurance professionals to get answers to your rental insurance questions (see link below).

Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get the best renters insurance quotes online from top-rated companies and see how much you can save. You can also get more insurance tips there.

Renters Insurance Guide – Renters Insurance Simplified

Confused about renters insurance? Here’s a renters insurance guide that will help you understand it.

Renters Insurance Guide

Many people think their landlords insurance will cover them if their possessions are stolen or damaged. Not so. Your landlord’s insurance only covers the building you live in, not your possessions. If you want to protect your possessions you need to get renters insurance.

Renters insurance is one of the least expensive types of insurance, yet it provides invaluable protection for you and your possessions. Renters insurance covers three basic categories:

Personal Property

Personal property coverage pays to replace your possessions if they’re stolen, or damaged by vandalism, fire, smoke, lightning, explosions, windstorms, burst water pipes, or electrical malfunctions.

There are two types of personal property coverages available:

Actual cash value coverage – which pays to replace your personal property minus a deduction for deprecation.

Replacement cost coverage – which pays to replace your personal property with no depreciation deduction.

Standard policies only provide limited coverage for expensive items like jewelry, furs, silver, and collections, so you may need to purchase additional coverage for these items. Standard policies also do not cover damage caused by floods or earthquakes, so if you want coverage for these disasters you’ll need to purchase additional insurance.

Additional Living Expenses

This coverage pays for your living expenses – hotel, motel, and restaurant bills – if your home becomes uninhabitable due to the causes mentioned above. Most insurers will reimburse you for the difference between your additional living expenses and your usual living expenses.

Personal Liability

Personal liability coverage pays for another person’s medical expenses if you, a family member, or your pet injures that person. It also covers damages to that person’s property. Some policies do not cover pets such as as pit bulls or rottweilers.

Standard policies usually come with $100,000 to $300,000 worth of liability coverage, but you can purchase more if you have a lot of assets you want to protect from a lawsuit.

Cheap Renters Insurance

Because renters insurance can vary by hundreds of dollars from one company to the next, the best way to get cheap renters insurance is to visit an insurance comparison website to get quotes from multiple companies.

Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get renters insurance quotes from top-rated companies and see how much you can save. You can also get more insurance tips there.

Where to Get Cheap Las Vegas Renters Insurance

As home prices go down and mortgage rates and requirements go up, more people in Las Vegas are turning away from buying a home and choosing to rent instead. Here’s how to get cheap Las Vegas renters insurance with a reliable company.

You Need Renters Insurance if You Own Personal Property

Renters insurance is a necessity if you own personal property. If you’re a renter, your personal possessions are not covered under your landlord’s insurance policy. Think of all the stuff you own – furniture, computer, clothing, appliances, electronics, sports equipment, CDs, kitchen utensils, etc. If you don’t have renters insurance and there’s a fire in your home, or there’s a burglary, you’ll be paying a lot of money to replace your belongings.

You Need Renters Insurance to Cover Extra Living Expenses

Imagine that a fire or flood has damaged your rental so badly that you cannot live there until repairs are made – which will take at least six months. Renters insurance will pay your living expenses such as hotel, motel, and restaurant bills. Without renters insurance, you may be hoping for friends who are kind enough to let you sleep on their couch.

You Need Renters Insurance to Protect Your Future

Renters insurance also provides liability coverage. This means if someone falls and injures himself or herself while visiting you and then decides to sue you, you have coverage to protect your assets.

Find Cheap Renters Insurance on the Internet

To help you save money on Las Vegas renters insurance, go to an insurance comparison website. Here you”ll complete a simple form with personal information about yourself and information about the place you’re renting. You’ll also need to enter the coverage amount and the deductible amount you want for your insurance.

The best insurance comparison websites offer a chat feature, so if you have any questions as you fill out your form you can get answers from insurance professionals online. (See link below).

Soon after you complete and submit the form, you’ll begin to receive quotes from multiple A-rated insurance companies. All you have to do is compare the quotes and choose the company with the best renters insurance rate.

Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get Las Vegas renters insurance rate quotes from top-rated companies and see how much you can save. You can also get more insurance tips there.